Fuji Heavy posts 78.4% drop in aerospace income

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Japan's Fuji Heavy Industries has reported that the half-year operating income from its aerospace segment declined by 78.4% to ¥5 billion ($61.5 million).

This came as net sales decreased 11.9% to ¥374 billion for the six months to 30 September, says the company.

FHI manufactures and supplies components for several passenger aircraft, including Boeing's 787 and 747 programmes and the Airbus A380. It also participates in the Hawker 4000 and Eclipse 500 private jet programmes, and is a contractor for the Japanese military.

The company, however, derives most of its income manufacturing the Subaru brand of cars. It earned an overall net income of ¥446 billion during the six months, versus a net loss of ¥217 billion a year before. Net sales grew 26.5% to ¥8.04 trillion.